Live Insurance News

Crop insurance unit at Deere to be sold to Farmers Mutual Hail

December 22, 2014December 20, 2014 G. Turner

The largest agricultural machinery company on the planet has agreed to the sale of its coverage business. After having experienced several years of losses, Deer & Co. has now agreed to sell its crop insurance unit to the Iowa based company called Farmers Mutual Hail Insurance Co. This allows the agricultural equipment manufacturer to shed a component of its business that has been quite costly. The sale of the crop insurance involves two of the company’s coverage units. These are: John Deere Risk Protection, and John Deere Insurance Co. The…

Small farmers may find large benefit from new crop insurance program

October 23, 2014October 21, 2014 Julie Campbell

Ranchers and growers in North Dakota who were previously unable to find coverage will soon have new options. In North Dakota, small farmers and ranchers have either struggled to find crop insurance coverage or who have been completely unable to purchase a policy will now be able to take advantage of a new program option for 2015. Previously, growers that were not large enough of any given crop may not have qualified for farm insurance. Until now, smaller producers, such as specialty vegetable growers and organic farms, such as those…

Crop insurance could cease to be offered by Deere

October 3, 2014September 30, 2014 Julie Campbell

The company is reviewing its options in offering this protection as it works to stay on top of a struggling industry. Deere has been selling crop insurance for eight years, but is now reviewing this part of its business and is considering withdrawal from that market as the well recognized tractor and farm equipment manufacturer continues its struggle in a farm economy that seems to be refusing to recover. The company has stated that it intends to review strategic options when it comes to this coverage unit. That said, Deere…

Crop insurance claims are starting to be submitted for damaged wheat

September 18, 2014September 15, 2014 H. Cutner

Farmers in many areas have found their fields struck by frost, causing considerable issues for harvest. The crop insurance claims have now started to be filed in higher numbers as a result of the wheat that has been damaged by the frosts that have struck several parts of the country, and many agents feel that the numbers will continue to climb. Some agents think that this year will see a higher number of claims of this nature than other years. North Dakota was especially affected by the recent frosts. While…

Crop insurance claims already increasing in Canada

August 5, 2014August 2, 2014 H. Cutner

As another summer comes with devastating flooding, farmers are already contacting their insurers. As farmers begin to have the opportunity to see how much of their land has been affected by flooding in Saskatchewan, Canada, they are submitting their crop insurance claims on an increasing basis. It is believed that the full impact of the flooding throughout Saskatchewan will not be known until the fall. According to Rae Groeneveld, from the Saskatchewan Crop Insurance Corporation, by July 29, there had already been 792 claims submitted, pre-harvest. He explained that “A…